British Pound Drops Despite Brexit Breakthrough

British Pound Drops explained by professional Forex trading experts the “British Pound Drops” FX trading team.

British Pound Drops

The British Pound plunged despite a breakthrough in Brexit negotiations opening the door for talks about the future UK/EU relationship. The currency initially popped to an 18-month high but gave away those gains and finished Friday with a loss, hinting that profit-taking may have taken hold before the week-end.

The US Dollar put in a mixed performance following the release of November’s labor-market statistics. Payrolls growth topped estimates and the jobless rate held steady at an impressive 4.1 percent but wage inflation fell short of expectations.

The Yen declined as global share prices firmed, signaling improvement in market-wide sentiment. Not surprisingly, this weighed against the perennially anti-riskJapanese unit. Meanwhile, the pro-risk New Zealand Dollar capitalized on the upbeat mood, tracking broadly higher against the majors.

British Pound Drops Conclusion

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